Wednesday, October 10, 2012

Mogambo Hunka Hunka Bunker (MHHB)

October
10, 2012

Mogambo
Guru

I was hunkered
down in the Mogambo Hunka Hunka Bunker (MHHB) after having worked myself into another
panic about the inescapable inflationary terror that will surely follow the
monstrous amounts of money being created by the corrupt Federal Reserve and
other central banks, including the horrid International Monetary Fund.

I was trying
desperately to calm down, hoping to feel safe behind triply-locked doors, armed
to the teeth and surrounded by microwave burritos, gold, silver, oil
stocks.After awhile, and after a
hastily-consumed burrito, I knew I was going to be "fine."

In fact, I will
probably "a lot more than fine," with the wide sweep of possibilities
ranging from the mundane "I'll be fine" to the classic "I'll be
astronomically wealthy in terms of the sheer tonnage of neat stuff that I can
buy, including enough money to pay off the wife and kids and finally shut them
up about how I don't give them enough money to spend on their worthless
trinkets, doodads, shoes, medical treatments and all that dental crap because I
maniacally invest all our money in gold, silver and oil, demonstrating that I
am smarter than all of them put together, entitling me to reap the rewards of a
snazzy new car, maybe with some fancy mag wheels, in which to haul my worthless
butt to the golf course, or just use the car to ride around looking for more
things to buy, playing the radio and honking the horn at pretty girls walking
down the street who are (as I am perfectly aware so I don't need to hear it
again from you) young enough to be my granddaughters."

Finishing off a
second burrito, mid-bite, out of the corner of my eye, I could see the Mogambo
Monetary Seismographs (MMSs) going crazy, their inky needles wildly scritching
and scratching frantically across the paper.I thought to myself "That's odd!How could such tinny sounds actually be the hoof beats of the Horsemen
of the Apocalypse?"

Well, that was entirely too melodramatic, I admit, but that's the kind of
crappy mood I was in, detached, as if in a dream, and not the good kind of
dream where beautiful ladies run their fingers through my hair, breathing
huskily and saying "Oh, Mighty Manly Mogambo (MMM)!I am thrilled by your raw, seething antipathy
towards the evil Federal Reserve creating so much excess money and credit
because it will destroy the dollar, destroy the economy and destroy us, and I
am enthralled and entranced by your seething hatred of the corrupt, low-IQ
Congress that lets them get away with, as you would charmingly call it,
Monstrous Monetary Crap That Will Destroy Us All (MMCTWDUA)."

Normally, I am
eager to fall into such a dream state and resist anyone rousing me from it,
especially saying something like "Wake up! You are going to be late for
work!" or "Wake up! The boss wants to see you in her office right
now!"

But no such
luck.I was brought back to stark
reality and the fullness of its ugliness by my eyes falling on the 5-Minute
Forecast, written by Addison Wiggin.

"As of Monday, Oct.
1," he writes, "the national debt stands at
$16,159,487,013.300.35. This means the government racked up
$1,369,146,684,743.20 in new liabilities last year."

If you are
intimidated by incomprehensibly large numbers, or your brain refuses to
understand what it sees, or you are like me and just too slow-witted to
immediately comprehend what the hell is going on, then permit me to simplify.

To wit: The
usurper Obama and his horrid, neo-Marxist administration overspent the
government's revenues by a whopping $1.4 trillion dollars in the last twelve
months!

How much is $1.4
trillion?This is more than all the
individual and corporate income taxes paid to the federal government,
combined!In fact, it is more than half
of the $2.3 trillion total federal tax receipts, including Social Security and
Medicare taxes!

The $1.4 trillion
deficit -- alone!-- is a gigantic 9% of
the Whole Freaking Economy (WFE) of the USA!Choking on my outrage, I stammer out "Unbelievable! One out of eleven
dollars of GDP is deficit-spent by the federal government!"

Of course, this
always sets me off about the horrible Supreme Court, which made it all possible
by ruling, over and over again, that the Constitution of the United States did
not really, really, really mean it when it was stipulated that money
"shall only" be silver and gold, which would have prevented any undue
expansion of the money supply, and which would have prevented any of this
bankruptcy crap from happening, and which was the whole purpose of the Founding
Fathers writing into the Constitution the requirement that money be only gold
and silver.

But it was the
Congress that created the Federal Reserve, which is not federal and it has no
reserves, yet it was given the power to completely control our money, despite
it being owned and run by a large, shadowy bunch of greedy people, including
foreigners.

So, who is to
blame, Congress or the Federal Reserve?

Steve Saville of
The Speculative Investor says that "We've speculated in TSI
commentaries that unwavering devotion to bad economic theory (a type of
stupidity) is the most likely reason for the Fed's introduction of a new
inflation program at this time. There are other plausible explanations, but in
general terms it boils down to this: the Fed is either stupid, or evil, or
stupid and evil."

Later on, he admits "We'll go with evil and stupid."

And if the Federal Reserve is evil and stupid, and the
Congress is corrupt and stupid, what is the smart thing to do?

I'm glad you asked!Buy gold, silver and oil!Gold
and silver because that has always been the smart play for the last 4,500 years
when governments behaved so despicably, and oil because it is now so completely
vital, to so many people, that they must pay any price.

And with the insane overproduction of new money and credit
by the filthy, foul Federal Reserve, the price of oil can go nowhere but up
when the purchasing power of the dollar has nowhere to go but down.

And you need but look deep, deep into my bloodshot eyes to
see the utter, utter sincerity there to believe me when I say, with the
aforementioned utter, utter sincerity, that it doesn't get any easier, or
smarter, than that.

2 comments:

All hail Mogambo!If I humbly may, oh magnificent Mogambo, I decided to put this $1.4 trillion into perspective- The government borrowed $1.4 trillion in one year (2011) per the government's own website. http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm we see in 1983 the total national debt was $1.3 trillion. It took from 1790 to 1983, 193 years, Years! to reach that amount, and now an amount slightly more than that is reached in only 12 months- and still there are fools who claim that the US Dollar is a safe haven! This madness will go on until one day it doesn't and the wisdom of Mogambo will trumph over paper pushing fools.

About Me

The Mogambo Guru
Richard Daughty (Mogambo Guru) is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the writer/publisher of the Mogambo Guru economic newsletter, an avocational exercise to better heap disrespect on those who desperately deserve it. The Mogambo Guru is quoted frequently in Barron's, The Daily Reckoning , and other fine publications. For podcasts featuring the Mogambo.